| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
5% | 0.25% | 1000 | 12 |
|
|
Bank of India
|
5.10% | 0.25% | 1500 | 12 |
|
|
Bank of Maharashtra
|
5.25% | 0.25% | 1500 | 12 |
|
|
Canara Bank
|
5.15% | 0.25% | 1000 | 12 |
|
|
Central Bank of India
|
5% | 0.25% | 1500 | 12 |
|
|
Indian Bank
|
5.35% | 0.25% | 1500 | 12 |
|
|
Indian Overseas Bank
|
5.10% | 0.25% | 1000 | 12 |
|
|
Punjab & Sind Bank
|
5.20% | 0.25% | 1000 | 12 |
|
|
Punjab National Bank
|
5.25% | 0.25% | 1500 | 12 |
|
|
State Bank of India
|
5.30% | 0.25% | 1000 | 12 |
|
|
UCO Bank
|
5% | 0.25% | 1500 | 12 |
|
|
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Union Bank of India
|
5.25% | 0.25% | 1500 | 12 |
|
|
United Bank of India
|
4.75% | 0.50% | 1500 | 12 |
|
|
Axis Bank Ltd.
|
4.80% | 0.50% | 1000 | 12 |
|
|
Bandhan Bank Ltd.
|
4.75% | 0.50% | 1000 | 12 |
|
|
City Union Bank Ltd.
|
4.80% | 0.50% | 1000 | 12 |
|
|
DCB Bank Ltd.
|
4.80% | 0.50% | 1500 | 12 |
|
|
Digibank (DBS)
|
4.90% | 0.50% | 1000 | 12 |
|
|
Federal Bank Ltd.
|
4.85% | 0.50% | 1500 | 12 |
|
|
HDFC Bank Ltd
|
4.75% | 0.50% | 1500 | 12 |
|
|
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ICICI Bank Ltd.
|
4.75% | 0.50% | 1000 | 12 |
|
|
IDFC First Bank
|
4.85% | 0.50% | 1000 | 12 |
|
|
IndusInd Bank
|
4.80% | 0.50% | 1000 | 12 |
|
|
Kotak Mahindra Bank
|
4.90% | 0.50% | 1000 | 12 |
|
|
RBL Bank Ltd.
|
4.85% | 0.50% | 1500 | 12 |
|
|
South Indian Bank Ltd.
|
4.75% | 0.50% | 1500 | 12 |
|
|
YES Bank Ltd.
|
4.80% | 0.50% | 1000 | 12 |
|
|
Pre-shipment facility allow you to get fund for expanding export growth just through the aid of trade receivable. It works as a working capital assistance for the purpose to procure raw material, processing & manufacturing of goods quality until the shipment takes place.
Pre-shipment finance Eligibility CriteriaEligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
There are top factors that generally affects pre-shipment finance eligibility criteria as given below: -
Not being an Exporter: - Pre-shipment facility only can be obtained if you meet the mandatory requirements of being a exporter. Therefore, being not an exporter, you fail to meet the criteria.
Exporter should not be in the caution list of RBI: - An exporter would be caution- listed by the Reserve Bank based on the recommendations of the AD bank concerned, depending upon the exporters track record with the AD bank and investigative agencies. The AD bank would make recommendations in this regard to the Regional Office concerned of the Foreign Exchange Department of the Reserve Bank in case the exporter has come to the adverse notice of the Enforcement Directorate (ED) / Central Bureau of Investigation (CBI) / Directorate of Revenue Intelligence (DRI) /any such other law enforcement agency and/or the exporter is not traceable and/or is not making sincere efforts to realise the export proceeds.
What are the ways to increase Pre shipment credit eligibility?To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Open account with preferred lenders: - This considered to be the best way to increase eligibility, by opening a bank account with your preferred lender 1 year earlier of availing loan will build trust to lender & a good financial history help them to know your creditworthiness.
Must hold Import & Export code no: - For any person doing import & export needs to get IEC Code on mandatory basis. As if you already owned it, then it shows how legally you are following the protocol & even enhances your eligibility strength to get finance.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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You have to repay Pre Shipment Credit fund over 6month.
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Pre Shipment Credit Loan you can take from Private or Government.
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Some document required for Pre Shipment Credit: -
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The Rate of Interest on Pre Shipment Credit is 0.75%.
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Pre Shipment means loan provided by the banks to an exporter for financing the purchase, processing, manufacturing or packing of goods before shipment at fair rate.
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CA Vikas Jain - Our Mentor
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